Chongqing authorities gave out business loans worth 1.47 billion yuan ($223 million) to startups from January to April.

More than 60,000 jobs were created during the period, according to the Chongqing Human Resources and Social Security Department.

Chongqing adjusted the policy of releasing guaranteed loans to business starters, raising the maximum funds available from 100,000 yuan to 150,000 yuan. The durations of the loans have been extended and eligible business starters can apply for a second loan.

According to an official from Chongqing, the city has signed a cooperation contract with more than 40 business incubator bases and business starters can apply for unsecured loans.

Edited by Jacob Hooson